ArcBest Corp (NASDAQ:ARCB) has earned an average recommendation of “Hold” from the ten analysts that are covering the stock, ARN reports. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and two have assigned a buy rating to the company. The average twelve-month target price among brokers that have covered the stock in the last year is $25.36.
ARCB has been the subject of a number of research analyst reports. Stephens lowered ArcBest Corp from an “overweight” rating to an “equal weight” rating and set a $23.00 price target for the company. in a report on Thursday, January 7th. Bank of America lowered ArcBest Corp from a “neutral” rating to an “underperform” rating and cut their price target for the stock from $29.00 to $23.00 in a report on Wednesday, December 2nd. Stifel Nicolaus upgraded ArcBest Corp from a “hold” rating to a “buy” rating and set a $23.00 price target for the company in a report on Thursday, February 4th. They noted that the move was a valuation call. Deutsche Bank cut their price target on ArcBest Corp from $34.00 to $26.00 and set a “hold” rating for the company in a report on Monday, January 11th. Finally, TheStreet lowered ArcBest Corp from a “buy” rating to a “hold” rating in a report on Friday, December 18th.
ArcBest Corp (NASDAQ:ARCB) traded down 1.51% during midday trading on Wednesday, reaching $22.82. The company’s stock had a trading volume of 104,665 shares. The firm has a market capitalization of $588.39 million and a PE ratio of 13.63. The firm has a 50 day moving average price of $20.69 and a 200 day moving average price of $23.25. ArcBest Corp has a 1-year low of $16.43 and a 1-year high of $40.25.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, February 24th. Stockholders of record on Wednesday, February 10th were given a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.38%. The ex-dividend date was Monday, February 8th.
A number of hedge funds recently made changes to their positions in the stock. Adams Asset Advisors LLC bought a new stake in shares of ArcBest Corp during the fourth quarter worth $517,000. Capstone Asset Management Company boosted its stake in shares of ArcBest Corp by 77.2% in the fourth quarter. Capstone Asset Management Company now owns 19,209 shares of the company’s stock worth $411,000 after buying an additional 8,370 shares during the period. Finally, Acadian Asset Management boosted its stake in shares of ArcBest Corp by 4.3% in the fourth quarter. Acadian Asset Management now owns 167,627 shares of the company’s stock worth $3,585,000 after buying an additional 6,974 shares during the period.
ArcBest Corporation is a holding company. The Company is a freight transportation services and logistics company. It has five segments: Freight Transportation (NASDAQ:ARCB) segment, Premium Logistics (Panther) formerly named Premium Logistics & Expedited Freight Services, Emergency & Preventative Maintenance (FleetNet), Transportation Management (ABF Logistics) and Household Goods Moving Services (ABF Moving).
